Briefly distinguish between budgeting and long-range
Budgeting and long-range planning are both important aids to management in achieving a company's goals and objectives. Briefly distinguish between budgeting and long-range planning, and indicate how they help managers perform their functions.
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Vincent pays $20,000 for equipment to use n his trade or business. He pays sales tax of $800 as a result of the purchase. Must the $800 tax be capitalized as part of the purchase price?
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Management is considering the use of robotics in the production process. If this were done, direct labor costs of $12 per unit of product could be saved, but fixed expenses would increase by $70,000 per month.
Budgeting and long-range planning are both important aids to management in achieving a company's goals and objectives. Briefly distinguish between budgeting and long-range planning.
AJ Accounting performs two types of services, Audit and Tax. AJ's overhead costs consist of computer support, $200,000; and legal support, $100,000. Information on the two services.
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On September 30 of the current year, Silver Fox Corporation files for bankruptcy. At the time, it estimates that the total FMV of its assets is $725,000.
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